secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2024-12-03T23:59:59+00:00
Accession:  0001171843-24-006701
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud

Psychemedics executes reverse/forward stock split, plans Nasdaq delisting
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- Stock split effective Dec 3, 2024: 1-for-5,000 reverse split followed by 5,000-for-1 forward split.
- Holders of fewer than 5,000 pre-split shares receive $2.35 per share in cash and are cashed out.
- Stockholders with 5,000 or more shares see no net change in share count.
- Company intends to voluntarily delist from Nasdaq and deregister, filing Form 25 and Form 15.
- Expected annual cost savings exceeding $845,000 from delisting and deregistration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184324006701/0001171843-24-006701-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184324006701/f8k_120324.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-006701

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